US jobs data revised lower after Fed rate hike

What happened

The US Bureau of Labor Statistics (BLS) has slashed job gains it announced in July and August by 60,000. In September, 16 of 18 Fed members expected to raise interest rates, even as the payrolls data they cited just shrank by a third.

The post US jobs data revised lower after Fed rate hike appeared first on Protos . Its earlier, more optimistic numbers were factors in the US Federal Reserve’s interest rate hike on September 16.

For the first time in three years, Fed governors made mortgages and credit more expensive with their benchmark rate hike, because they had decided “the labor side of the Fed’s congressional remit is in good shape,” affording them the luxury of slowing inflation. The BLS reported a 21,000 gain when the Fed voted in July, but this figure now shows a 10,000 loss.

Key facts

• The US Bureau of Labor Statistics (BLS) has slashed job gains it — announced: in July and August by 60,000